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Automotive News Headlines - Yahoo! News

Automotive News Headlines - Yahoo! News
  • Car makers to profit from China's booming used market

    A family watches a large screen playing safe a driving piece during the 16th Shanghai International Automobile Industry Exhibition in Shanghai on April 23, 2015The vast majority of cars in the world's biggest auto market are purchased new, but a second-hand trade is beginning to emerge in China despite traditional buyer reluctance -- and foreign manufacturers are hoping to benefit. In China one used car is sold for every four new vehicles, the opposite of Europe and the United States, where around three used cars are sold to every new one.

  • ThyssenKrupp to invest $866 million in North America

    ThyssenKrupp CEO Hiesinger addresses the company's annual shareholders meeting in BochumGerman industrial group ThyssenKrupp plans to invest more than 800 million euros ($866 million) in North America by 2020 to take advantage of the economy's reindustrialization. "We are profiting from economic growth and the renaissance of manufacturing in the USA. ThyssenKrupp increased its sales in North and Central America by 8 percent to 9.04 billion euros in its 2013/14 fiscal year, most of which were in materials distribution, elevator technology and automotive components.

  • S&P upgrades Renault to investment grade

    The logo of Renault is displayed from the ceiling of an exhibition hall during the Brussels International Auto ShowCredit rating agency Standard and Poor's upgraded Renault on Wednesday to investment grade due to the French carmaker's improving financial health and profitability. S&P said it had lifted its rating on the company to BBB-, the lowest level on its scale considered as investment grade, from BB+. "The upgrade reflects our view that Renault will maintain strong credit ratios in the next two years and gradually improve the profitability of its core automotive division," S&P said in a statement.

  • Norway to review electric car subsidies as sales soar
    Norway is reviewing its subsidies for electric vehicles after generous government incentives made the country the biggest user of battery powered cars in the world, hurting state revenues, the finance ministry said. Norway registered its 50,000th electric car on Monday, almost three years earlier than expected thanks to government schemes that have cut taxes and provided a plethora of benefits, including an exemption from tolls and parking fees, free recharging stations and the use of bus lanes. A fifth of all new cars sold in Norway have been electric so far this year and tiny Norway, with just 5.1 million people, accounted for a third of all European battery powered car sales last year, official data showed. "Our goal is to present a final agreement on the review of the future of automotive and fuel taxes," the finance ministry said.

  • Taurus revamp debuts in China as Ford counters U.S. sedan slump

    A 2015 red Ford Taurus sedan is seen in the showroom at the Suburban Ford dealership in Sterling Heights, MichiganBy Norihiko Shirouzu and Joseph White SHANGHAI/DETROIT (Reuters) - Ford Motor Co's global premiere of its redesigned Taurus sedan in China underscores a shift in its U.S. home market from the big sedan to roomier, utilitarian crossover SUVs. There's a similar trend in China, the world's biggest car market, but there is still a decent appetite among Chinese buyers for large sedans while, in the United States, demand has stagnated. According to research firm IHS Automotive, China's market for large sedans has overtaken the United States, with sales of around 4 million last year, topping the 3.6 million sold in the U.S. By 2020, IHS expects that gap to have widened to 5.3 million large sedans in China and 3.7 million in the U.S. Ford unveiled the Taurus redesign, which it says is aimed specifically for the Chinese market and won't be for sale in the U.S., at a media event on Saturday ahead of the Shanghai autoshow.

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